How much is the companys interest expense for the loan

Assignment Help Accounting Basics
Reference no: EM131805263

Problem

On 1st July 2016 a company borrows $15,000 at 8% effective interest rate for four years. Under the terms of the loan it must make annual payments on 30th June each year of $4,529. to the nearest dollar, how much is the company's interest expense for this loan for the year ended 30th June 2018?

Reference no: EM131805263

Questions Cloud

Why adjusting entries must be journalized : Why adjusting entries must be journalized even though the formal statement have already been prepared?
Ddiscuss what you consider to be important prerequisites : Ddiscuss what you consider to be important prerequisites for conducting research on human behavior by using human participants.
Synopsis of the organization and roles of the individuals : Paper on the following questions: A synopsis of the organization and roles of the individuals involved.
Find the relative frequency of winning : Consider a game in a gambling casino that pays off with probability 0.40. Yesterday 42,652 people played, and 17,122 won.
How much is the companys interest expense for the loan : To the nearest dollar, how much is the company's interest expense for this loan for the year ended 30th June 2018?
Program that was privately owned and operated : Two years ago I worked for an after school program that was privately owned and operated. The owners were very smart caring people and were driven
Find the probability that neither product succeeds : Your new firm is introducing two products, a bicycle trailer, and a baby carriage for jogging. Your subjective probabilities of success for these products.
Describe specific ethical issues keith needs to consider : Reflect on what you have learned in your readings about cultural, legal, and ethical issues related to assessment.
Diagnose and analyze the organization : Using action research a manager needs to diagnose and analyze the organization. Understanding the desired state, acting on the changes

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  Your company is going to replace the legacy payroll system

you are the manager of a payroll system. your company is going to replace the legacy payroll system with a more robust

  Calculate the densain naples plant overhead rate

Calculate the densain Naples plant overhead rate and Calculate the denasain Naples plant over or under absorbed overhead

  Different types of budgets and techniques

You are a manager in a fictitious company of your choice. Your director has asked you to explain to the department staff the different types of budgets and techniques in order to provide an overall understanding.

  Compute the volume of sales in units of each product

Letterman Company produces and sells two products: A and B in the ratio of 3A to 5B. Compute the volume of sales in units of each product needed

  Prepare the journal entries to record issuing the bonds

Prepare the journal entries to record issuing the bonds and any necessary journal entries for 2013 and 2014. Post the journal entries to T accounts.

  Why are data ephemeral and corruptible

Why are data ephemeral and corruptible? Cite three differences of primary and secondary data? Which one is reliable to use-secondary data or primary data?

  Discuss craft company produces a single product

Craft Company produces a single product. Last year, the company had a net operating income of $90,560 using absorption costing

  Prepare the journal entry by fuzzy monkey to record interest

Prepare the journal entry by Fuzzy Monkey to record interest

  Assuming that the quantity of inventory remained stable

Why does GAAP require AMCON to retrospectively adjust prior years' financial statements for this type of accounting change?

  The following data are based on information

The following data are based on information in the 2010 annual reports of H&R Block, Inc. , and Jackson Hewitt Tax Services, Inc. Dollar amounts are in thousands.

  What is the objective of convergence

FASB and IASB have been working on a Convergence Project for over ten years. In a 1-page essay discuss the two standard-setters and the body of standards issued by each. What is the objective of convergence?

  How common are dividend distributions in today economic

How common are dividend distributions in today's economic climate, particularly since the economic downturn of 2008 and 2009? Please comment on whether dividend distributions are concentrated in the companies that are publicly traded or whether cl..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd